Full-Time MBA

MD/MBA Program

The University of Miami School of Business offers a joint MD/MBA degree program in partnership with the University’s Miller School of Medicine. The business curriculum prepares future physicians for the business complexities related to running a private medical practice or heading a group practice, preparing medical students for careers in health sector management, leadership and policy.

The MD/MBA program adds an additional year to the four-year medical school curriculum. The MBA coursework ranges from financial reporting and corporate strategy to the legal aspects of health administration.

MD/MBA candidates have the option of choosing a Research Track (project-based, which provides practical, hands-on experience) or an Elective Track (provides business electives).

Curriculum and Application Information

Curriculum

Course Descriptions

ACC 670 – Financial Reporting and Analysis (2 credits)

The course focuses on the analysis and use of financial accounting information in the evaluation of corporate performance. The course initially demonstrates the accounting process and resulting generation of financial statements. Building on these core accounting concepts, the course emphasizes the understanding of financial statements prepared under U.S. and International Accounting Standards and the analysis of these financial statements including common size analysis, ratio analysis, the impact of taxes, and credit analysis. Completion of the course enhances the student's ability to read, interpret, and analyze financial statements for making investment, credit, acquisition, and other evaluation decisions. Limited to MBA students and Executive MBA students. Does not satisfy any accounting requirements needed to sit for the CPA Exam in Florida.

ACC 671 – Accounting for Decision Making (2 credits)

The course focuses on the use of accounting information in reporting managerial performance and making business decisions. The course covers the preparation and use of managerial accounting information for use in planning, budgeting, control, break-even analysis and pricing, including the impact of taxes. Completion of the course will enhance the student's ability to understand managerial accounting reports and use this information in making business decisions. Limited to MBA students and Executive MBA students. Does not satisfy any accounting requirement needed to sit for the CPA Exam in Florida.

BTE 610 – Foundations of Management Information Systems (2 credits)

Course is designed to provide the foundations in management information systems required to understand and effectively use an enterprise wide information system. Topics include the role of the CIO, managing Information Technology (IT) as a strategic resource, business process reengineering, IT planning, IT governance and communication, the Internet, and eBusiness.

BUS 603 – Critical Thinking and Effective Speaking (1 credit)

Topics include oral persuasion, prepared and impromptu speeches and dealing with the media, defending one's view before adversarial audiences, display of data, and effective use of visual aids.

BUS 604 – Career Development and Enrichment (1 credit)

This course will expose students to a variety of academic and industry career lectures, events, and workshops to enhance their MBA experience. The focus is to establish added-value to an MBA student through real world and relevant access to information and resources beyond the traditional curriculum.

BUS 698 – Research Project (6 credits)

Individually supervised research project in selected field. Scope of work must be approved by supervising professor prior to registration.

ECO 685 – Managerial Decisions in a Global Economy (2 credits)

Modern techniques of economic analysis and decision science are applied to the management of the firm in a global environment. Business planning and the determinants of supply and demand are an integral part of the course. The principal forms of business organization and dissolution are reviewed. The major issues confronted by the firm: Principal-agent problem (or how to motivate managers to act in the best interest of the owners, the shareholders), moral hazard, discounting of free cash flow and terminal value, economies of scale and scope, and strategic management decision making are covered.

FIN 641 – Valuation and Financial Decision Making (2 credits)

Basic financial valuation. This is one of the core classes in finance for our regular MBA program. Topics include the financial environment; the time value of money; capital market efficiency; basic security valuation; risk, return and asset pricing; cost of capital; and an introduction to capital budgeting.

MAS 631 – Statistics for Managerial Decision Making (2 credits)

This course aims to familiarize the student with statistical theory, tools, and methods required for business systems analysis and improvement. Topics include descriptive methods, elementary probability, random variables and the distributions, hypothesis testing, confidence intervals, statistical modeling, and regression.

MAS 632 – Management Science Models for Decision Making (2 credits)

This course aims to familiarize the student with Management Science tools for business systems analysis and improvement. The coverage includes linear and integer programming models, project management, simulation, queuing, and decision analysis. Some widely used software are illustrated through examples and case studies derived from business applications.

MGT 620 – Managing Through People (2 credits)

This core course in the MBA program introduces students to some of the key behavioral topics necessary to manage oneself and others in organizations. Specific ally, the topics covered include individual attributes (personality, perception, motivation, relationship building), group processes (norms, roles, and team basics), leadership views, and organizational culture/change. An understanding of the relationship between each of these areas and organizational outcomes is enhanced through lecture, cases, and interactive exercises.

The objectives of the course are to improve the student's ability to think strategically and to provide an intellectual framework that enhances understanding of the MBA program. The course focuses on relationships among the firm, its strategy, and its environment; why firms choose certain businesses; which business strategies are successful; and how firms can change in response to a dynamic environment. Models for strategic formulation, implementation, and control are developed that facilitate an integrated understandingof the courses that comprise the MBA curriculum. Readings and lectures illustrate strategic management theories and frameworks while case discussions, experiential exercises, and team projects provide opportunities for application.

MGT 677 – Corporate Strategy and Organization (2 credits)

This capstone course focuses on the perspective and skills of the general manager. Its purpose is to provide practice in diagnosing and identifying realistic solutions to complex strategic and organizational problems. Course builds on previous coursework by providing an opportunity to integrate various functional areas by providing a total business perspective. Since the course focus is on pragmatic, action-oriented general management skills, the course is taught primarily through the case method and requires both written analyses and case presentations.

MKT 640 – Foundations of Marketing Management (2 credits)

Course introduces students to the analytical concepts and tools of marketing management. Special emphasis is placed on the relationships between marketing and overall company strategy, the development of a customer orientation, the integration of marketing throughout the organization, and the implementation of systems for planning and controlling the marketing effort. Students consider problems of consumer analysis, product planning, integrated communication, distribution, and pricing. The discovery and application of marketing management skills are developed through the use of readings, case exercises, and class discussions.

Concentration Course Descriptions

BSL 685 – Legal Aspects of Health Administration (3 credits)

Derivation of rule of law governing health providers, vicarious liability of administrative and medical personnel, informed consent, and other related problems are discussed.

BUS 655 – Public Policy and Health (3 credits)

Development of public policy at the federal, state and local level. Policy process, models of policy analysis, policy development in several government service areas, and plans for policy change. Special emphasis on health policy formulation, implementation and the use of epidemiological tools in health policy analysis

MGT 681 – Essentials of Health Care Administration (3 credits)

This course develops an understanding of the basic elements of the health Services industry in the United States. A systems approach will be used utilizing a historical perspective as a basis and moving on to current and potential future system dynamics. The various components of the health care system will be examined, including physician services, hospital and hospital systems, long-term care providers, mental health services, and pharmaceutical services. Various elements associated with the financing of health services will be examined as well as indemnity insurance, capitation, and the role of managed care and consumer driven health care in theory and practice. The role of government and its impact on our health care system will be explored as well.

The purpose of this course is to provide the student insight into organizational and economic aspects of the various sectors and agents within the health care industry. Exploration will allow us to understand how such aspects in turn affect performance measured in terms of managerial, economic and ethical criteria.

The course will explore issues associated with scarce resource allocation and distributional justice. We will examine the organizational structure, behavior, interactions between structure and behavior, and the resultant performance of the various sectors of the health care industry, including models of hospital management behavior, operations of alternative services markets, and the market for physicians and physician service as well as the market for nurses. Aspects of risk will be examined and the impact of governance on economic behavior and performance in the marketplace.

Application Information

MD students are eligible to apply to the MD/MBA program during their third year of medical school and will be required to submit a Full-Time MBA online application and the GMAT to be considered for the program.

MD Program:

MBA Program:

Admission Advisors at the School of Business Administration, 305-284-2510 or mba@miami.edu

Helping Physicians Succeed

Navigating the Business of Health Care

“As the health care industry evolves, physicians are not only joining large, multi-million-dollar practices, they’re running these organizations," says Steve Ullmann (pictured right), chair and professor of health sector management and policy at the School of Business. "Today’s doctors must understand how to negotiate contracts with pharmaceutical companies and medical suppliers, navigate through the Medicare and Medicaid systems, negotiate with managed care companies and hospitals, understand pricing and financing, and develop effective marketing programs for their services.”